The Globe and Mail reports in its Tuesday, June 20, edition that Investment Management Corp. of Ontario is wagering $400-million (U.S.) on a Swedish battery manufacturer as part of its strategy to align a fifth of its portfolio to achieving climate-related goals alongside investment returns. The Globe's Jeffrey Jones writes that IMCO said its investment in Northvolt AB will help the company expand manufacturing and marketing of its sustainable battery technology and develop its supply chain globally. Northvolt produces batteries for transport and energy storage at a gigafactory in northern Sweden. The Globe says it touts sustainable production methods, with the plant powered by emission-free electricity. The company has set a goal to produce 150 gigawatts of annual production capacity by 2030, with a focus on keeping a small carbon footprint through regional sourcing of materials and recycling. It has been considering new manufacturing sites in other countries including Canada. Mr. Jones reports that Northvolt's ownership group includes Volkswagen, BMW and Goldman Sachs. IMCO has been reported to be considering an initial public offering. IMCO says the deal fits with the organization's climate action strategy.